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correction? with the rising economy and profits this rally still has legs. also in year three of obama care premiums and insurance costs are rising sky-high. so are taxes. and small business costs are reducing profits by as much as 65% according to one small business owner we will talk to tonight. and the virtues of a free market capitalism that we talk about every night on this show are now forbidden fruit at stanford university. a popular long running pro capitalist course at that school has now been cancelled. what is up with that? "the kudlow report" begins right now. >>> first up, a major vote in the cyprus parliament helping to get that country closer to a teal with the european union. michelle caruso-cabrera joins us from cyprus again this evening with the very latest. good evening, michelle. >> reporter: larry, lawmakers here in cyprus taking a huge step tonight to prevent the financial collapse of their country. they pass ad law that will allow for the restructuring of their banks. this essentially means their sickest and largest banks will be down sized and made more healthy. this
this. gallup, fox news, rasmussen, after the economy, the number two concern to the people is the debt. i think there is a growing sense that government spending and government debt at these levels, it does act as a huge drag on the economy. connell: what we have been saying here, unless the interest rates start to go up, you can pull people and they can say whatever they want. their behavior will not change unless you see a spike in interest rates. >> it will be hard to get a spike in interest rates with the fed flooding the system with liquidity. the whole world is on painkillers right now. we have become addicted to liquidity, easy solutions and until the fed start to bring it in and interest rates go up, i do not see a change. dagen: do the people who are still buying taxable debt, you start to see money flowing back into u.s. stock. you see billions every week into world stock. >> i think we are somewhere close to the end of a bond bubble. for the third time in 60 years, we are looking at ten year treasury rates below inflation. that is, obviously, not a way to build over time. we
idea. i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to watch and see how it folds out. but i've got a feeling it will have to turn itself around fairly quickly. >> michael, what do you think? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting to present some o
economy. that is the real engine of the economic prosperity. >>> plus the supreme court this week will hear two important cases concerning same sex marriage. shouldn't the black robe masters leave the important social decisions to the states and their democratically elected legislatures or referenda? let the people decide. "the kudlow report" begins right now. >>> first up, in recent weeks, he's become a conservative super hero icon. that following his triumphant speeches at the national prayer service and the cpac political conference. dr. ben carson has a message to roll back obama care, deal with the crushing national debt, and even a bib llically based call r a flat tax. that's what i love. is he the conservative that can save the gop? here is the aforementioned dr. ben carson. director of the pediatric division at john hopkins university. and with us this hour, cnbc contributors keith boykin. as always, dr. carson, great to see you. i'm reading one of many articles that you're retiring in 100 days. i wonder if you would share future plans, especially public service. >> i have
and the new fed forecast for the economy. and the stocks we're focused on this morning, blackberry getting an upgrade at morgan stanley and a note titled why it won't go down and it gets into the best buy bull camp, and calling it the best near-term idea in the sector. let's get straight to fedex. the package delivery company says it earned $1.23 a share in the fiscal third quarter and below wall street forecasts. fedex says the customers were choosing slower transit services. this does happen, of course, after a massive run in the transports. >> one of the things that amazes me about fedex is they keep missing and they get loved a few days later. missed and gets loved. it's still regarded as being a profit machine. they have this restructuring that people like very much. people feel it's only a matter of time before someone steps up to the more expensive freight. to me, my charitable trust owns ups. ups has the expectations lower. scott davis always says negative things. >> melissa hit the nail on the head. the stock had a big run and the two guys were going head to head over what was in
the to and improving global economy. everybody has thought, oh, europe is getting better. and the reason that they have is those credit spreads have gotten better. the european central bank have pushed those credit spreads down. the thesis has been that the global economy is getting better, but it's not getting were the. all of the economies in europe are deteriorating. japan is deteriorating. our market's moving higher because of money printing. once that -- once we get a spillover effect, some sort of a watershed moment in europe, you're going to want to take your assets off the table. >> well, that's a good point, but at this point, eric marshall, do you want to be takingoney off the table now? and if so, where do you put it? >> well, i think the important thing here, you know, stocks have been moving up over the last few months, really in response to improving corporate earnings. so i think you really have to focus on individual company fundamentals. and at the hodges fund, we really see this as the golden age for active portfolio management. you know, over the last few years, investors have really
than three hours from the federal reserve notes and whether or not it continues stimulating the economy at the current levels, keeps propping things up. why don't you just pick up from where we left off because talking about washington related to the bigger picture scenario not assist early today but the role the federal reserve plays in all of this as long as interest rates stay as low as they are, what do you think? >> the fed plays a big role keeping interest rates low. i heard on the fiscal side, you're right, maybe outside of the beltway the washington fatigue, but returned to the fed, everyday to indicate the fed keeps the pedal to the metal, 85 billion per month, there'll be some talk about scaling it back later this year. the thing to watch is the fed forecast. all the members put in the economic forecast for the next three years. my guess is it'll be a little bit more promising for social and employment rate above 6.5% until 2015 and that is the threshold, they will not move interest rates up before your employment rate gets to that level, that is still at least two years from
insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion euros and they were trying to come up to reduce the original size from 17 billion euros. the other thing to keep in mind, by taxing depositors they're taxing a lot of foreigners and a lot of russians who had kept their money. the thing is will the rest of europe, will small depositors across the rest of europ
and howard ward. >> economy is getting better, capital chase returns and stocks continue to trend higher although there's profit taking here and there. >> okay. we'll take that to the bank. the key question about europe. it's all about credit quality. >> who do we have to worry about? >> spanish, italian and greece. >> you're very worried. >> people have to start doing their work. europe never did the work of fixing bank solvency in the first place. >> gentlemen, thank you for being here. >> happy monday. >> that does it for us today. make sure you join us tomorrow. right now it's time for "squawk on the street." ♪ ♪ ♪ ♪ >>> welcome to the last week of the first quarter. good morning. welcome to "squawk on the street." i'm carl quintanilla with melissa lee and jim kraker. futures reflecting the relief of the cyprus deal. a similar picture in europe where the italian tenure is now below where it was before those italian elections and a mixed picture in asia this morning. the nikkei up about 1.5%. the road map begin with the eurozone that did not collapse over the weekend so natura
home building numbers today too. >> that too. we're in a niche market. the u.s. has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take care, maria. >> what do you think? we're finishing positive here. this market doesn't want to go up? you think some of that's short covering? >> i think that's what we're see right now. finishing up the day. right now people will have to play it cautiously. we haven't seen the end of the cyprus thing. we have some negotiating going on from russia. the impact of that, as you mentioned, is a little minor relative to the size and scope of them, but it's whether or not that moves into italy, spain, as we've all been talking about. >>
the day. from the economy to earnings now. we get a number of interesting quarterly reports due today as well. before the bell, we'll hear from fedex, general mills and lennar and this afternoon we have oracle. a lot to chew on for the markets. s&p by the way coming off its first three-day decline of 2013. take a look at u.s. equity futures at this hour. green arrows across the board. and then of course there's cyprus. the country's leaders are holding crisis talks today trying it avert a financial meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignan
. let's take a pause to digest all of what's going on. >> there are two economies here. kb homes, lennar, sherwin williams, whirlpool. there is the economy defined by fedex, by caterpillar and this morning by yorele cal. i was on the call last night. the cisco downgrade today. this dichotomy is allowing i think bernanke to not have to taper off. at the same time it calls into question how weak is that international market. seems very weak. >> did we get largely what we wanted from the fed yesterday? there were no big surprises within that. >> no. i think that was the point to not have any big surprises. i think there was a poignant moment yesterday that i think wasn't talked about enough where someone asked imputedly, i felt, because ben bernanke deserves better -- do you know anybody that's unemployed? do you note price of a gallon of milk? he came back, yes, i have a relative on unemployment. he's going to get unemployment down then we'll talk about tapering. until then we are playing a parlor game with the fed. i believe bernanke when he says these things. >> there's no reason to beli
to the size of its economy. their banks are almost all entirely deposits. at least the two ones that were failing. most of the other banks in europe have a lot more junior and senior debt. big fat cushions that sit between potential losses and uninsured depositors. so the likelihood of this particular situation happening again? highly unlikely. but you're going to have to be more careful. that's the bottom line. bill? >> michelle, the question we're all wondering about here in the states and i guess around the world is will the cypriot banks will able to open tomorrow as had been expected? >> no. no. they've finally put out a statement and acknowledged what we were all beginning to realize would be true. they cannot. they're going to open up the two troubled banks on thursday, they hope. they claim they're going to open up nontroubled banks as well. that's going to be difficult. remember, banks talk to each other, right? there's all kinds of intrabank business that happens. it's going to be slightly problematic. we'll have to see how that plays out. plus we're going to see if there are ru
to the forefront and that's more important. the u.s. economy, china and although there is a big idea they're stealing customer's money and savings accounts is abomination, i believe it's a different european country. entered the european union in 2008, i don't think it will be as big of a deal as people think, i think it will be on the headlines for two weeks. stuart: all right, let's see what's happening on the opening bell, upside. and i'm looking for a gain of 20, 30 points for the time they're open, 10 points higher, 14,462. nicole, let's bring you in. one of your favorite stocks, we're watching it closely. yoga pants, they say they're too sheer. in other words, you can see through them. i think that the stock is way down. nicole: it is way down. it's going to hurt their bottom line. and they're talking about bringing in the pants that are sheer. that basically is like a fall for the company, you can't have pants that are sheer. i have to admit my lululemon, i noticed recently is sheer and it's no joke and you're able to bring them back in, but it's going to hurt their revenue and bot
of the economy that are not that strong and i don't know what the sequester will bring in the month of april. >> look, the data say things are better, and i think the fed will be under a lot of pressure because interest rates are headed higher. >> at some point the fed will have to acknowledge that -- and they have -- to your point, they changed the language a little bit. it's a moderate recovery and it's a strengthening recovery. words like that. >> right. >> at some point they're going to have to acknowledge what we all seem to know which is -- they're not great, but things are getting better. now will inflation pick up and that, of course, is the fed's number one mandate. will inflation pick up until we see jobs pick up because wage inflation comes with excess demand from workers. i don't know. that's the big trillion dollar question mark. >> commodity inflation whether it be corn or copper and the strong dollar will contain inflation that's going up a great deal. housing is stabilizing and not really in the numbers. i want to take issue with some of what you said. i think we all think th
's on -- you know, it's 0.2% of their economy and, you know, we're worried about whether there's any ripple all the way over to us. >> it may want be an instant market reaction, though. it may be something that's more of a concern about whether there would be other countries that step out of the eu. >> don't you think the markets could anticipate whether there would be further trouble or not? >> i don't know. i think this is -- >> we would be seeing it if it was really -- if they he can't sell off in europe, we shouldn't be looking at it at all for our markets here. >> no. michelle, what's that? >> i know you're over there, but you don't care. >> the one ripple effect i can think of is -- the one ripple effect i can think of is that if when they wind down this bank, there's some wealthy russians or wealthy companies that had money in there that they would lose a substantial portion of, perhaps 50% of the uninsured deposits if they do a wind down. if they have a margin call, you know what i'm saying? some kind of ripple effect maybe related to a russian company or a russian individual. but when
term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the third quarter going into the fourth quarter. i'm positive. >> so bill, because the s&p capital iq estimates call for 0.6% growth the first quarter and then it goes up to 7%. so they're expecting profits to actually reaccelerate second half. >> lee munson, you're the only outside guest buying stocks here. what are you buying here? >> you know, i'm just focusing where i need to get some more exposure. i'm focusing first on emerging markets. they've lagged year-to-date. i think they can outperform by december 31st. i like the emerging markets to add more money today. i would also say, add more money to the s&p 500 today. the only
demand. moreover because of stronger growth in each economy. it has the beneficial spillovers to trading partners. there will be a test later. thank you. ashley: there are always two sides of the story. central banks have been doing it all around the world. tracy: i know. peter barnes will bring you the q&a session of bernanke's comments when they have been live. ashley: let's check these markets. nicole petallides at the nyse. you are also looking at some big tech names. nicole: i am keeping an eye on blackberry and yahoo!. down almost 3%. goldman sachs downgraded. it is not really up to par and not really doing that well. they are not seeing the sales that they had hoped. let's take a look at yahoo!. it is up one half of 1%. 23.25 a share. back to you. ashley: barely up, but it is up. thank you. tracy: boeing announcing its plan to conduct a 787 and flight today. the troubled dreamliner has been grounded since early january. we heard last week they would do a little test flight. ashley: hopefully no smoke. with the securities and exchange commission approving nasdaq's plan to pay out t
. by in large, of those 11 million, they're contributors to our economy. if we get it right and finally fix our broken system, we're going to have 11 million people contributing to our economy and it will be the biggest boone we could ever imagine to this economy. >> speaking of that, the economy and this economic impact, as you know, it's obviously a huge issue, and according to the center -- a study by the center of american progress, passing comprehensive immigration reform this year would create 200,000 jobs a year for the next ten years. it would add $1.4 trillion to our gdp, and it would add almost $800 billion in personal income. so the american people are going to pay a pretty heavy price if we don't get immigration reform passed this year and there's certainly an economic argument to be made. do you think that your colleagues on capitol hill, particularly those who are still resistant, understand how high the stakes are? >> i'm glad that these studies are being done. i think these studies are actually telling the truth. at the same time, unfortunately, i think the people afraid to vote
can be the linchpin in our economy over here. it's ridiculous. >> right. it should be a smaller problem. they could take care of this in other ways. they could print money or -- >> i'm not going to pick a state here. it would probably be a southern state, but a poor southern state cannot take the down the united states. >> a western state because they're not awake yet. but here we are. out of the 22 -- cyprus? >> you thought greece was small, cyprus is -- >> come on, cypriots? i remember some conflicts. i thought it was a golf course, which would be a much bigger problem to me. >> let's introduce our guest host this morning, kenny dichter, co-founder of avian. why do i always mispronounce it? because you've been b drinking it. >> avione is airplane in french and spanish. >> can we get a full shot of this? he's now the chairman of juicepress. i have been drinking this stuff for the past week, virtually, five days. >> and you know what? your skin tone has never looked better. >> no food up until this saturday. you've been doing this now -- >> 22 days. >> i've made my cleanse zero
that the economy is not growing. all wee doing is spending more money for the things that we buy and so it's a charade, a facade. looks like we're growing, but we're contracting. i think that's going to get worse as time goes on. shibani: fueled by money printing. peter, aays great to have you on. thank you very much for joining us today. >> you're welcome. shibani: switching gears and giving lou dobbs a chance of this. if the tiny med trainian island collapses, does it take the entire eurozone with it? i saw you taking notes. i know you want to jump in here, thghts on what peter said? >> peter, i always enjoy listening to his perspective on e world. he said that cypress, you know, could happen anywhere. he did later acknowledge it was an extreme example of banking and sovereignty gone wrong. here's the reality. cypress i now learning th it made serious mistakes. it tried to take the eurozone, the european commission, the international monetary fund and the e. cb to the brink. they play ad like fools. that's how they got in this position. they were reminded of that by the russians who reje
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. a market and economy dependent, i guess, but absolutely, they're going to keep printing until they feel they don't have to anymore which is probably a long time away from now. charles: buying the dips, thanks a lot, larry. that's by the way the opening bell, and the markets are ringing, the futures have been up all morning long and let's check the big board. dow up 29 points and ticking away. and the market is up and fedex we talk about that being something of a proxy for the economy. and they reported the numbers this morning and the profits were lower, and maybe people are buying or not shipping as much of the certainly we want to find out what's going on. let's go to nicole petallides on the floor the of the new york stock exchange. >> we're seeing fedex to the down side and the transportation index is higher and the dow is up 51 points. fedex comes out here with the numbers and they talk about weakness that hit their profits and they're actually trying to cut costs, but in cutting costs they actually incur cost toss cut costs so they're noting that as well. and year to date, fedex i
there. the economies there were slow and germany the fifth biggest. great britain at number eight. france the 9th largest. all shrink shrinking in the last quarter. that is not what you want. entire eurozone by the way losing huge number of jobs. a record 19 million are unemployed. martha: deadly storm causing serious problems across the south. areas of alabama got pummeled with large hail. some of it was the size of baseballs. that is an unusual sight. that is what they had there. high winds causing issues in georgia. thousand people waking up without power there. national weather service say the storm destroyed a store and a dozen homes. look at the wreckage on the ground. one man was killed when the wind topple ad tree on to his car. bill: we had whiteout conditions here in new york city last night and a new round of snow making for a tough commute across the northeast. new england could see the worst of it. that region getting hit with several major storms over the winter. it could get up to 20 inches of snow by the time this storm passs? maria molina live in the fox severe we
, there will have to be budget cuts behind the sequester. the sequester will not be the end of it, but the economy is recovering. i wouldn't say in spite of what the govern am hment has done. the economy is recovering of its own natural forces now. we've had 12 years of subpar growth. we've had 12 years of up and down with little net progress in the markets and people have forgotten what a strong economy and what a bull market -- a secular bull market looks like, and i think that's generally where we're headed for the next four years, so i'm predicting, as you said, 25,000 on the dow which implies a 15% compound rate of return for the next four years. >> john, can i just come back on the important points that you're making about europe. i'm not sure it's a question of what america trades with whom. it's a question of where the companies that are quoted on this market make their profits and in technology, for example, 40% of those profits are made in europe and therefore europe arguably is more significant than you might think on the trade argument having said that. this is a very interesting week
's remind otherwise of what we're talking about here. the cyprus economy is neither too big or too systemic to fail. fall is basically what the euro group has imposed on it. eats leaving it with almost no viable economy, certainly not to support the size of the economy it will grown to support. the trouble for cyprus being that they're going to have to take that pain and now the years ahead are going to be extremely difficult. we don't even know when banks are going to reopen. last night after those long negotiations when the cyprus manager left, julia stopped and asked him when people are going to be able to get their hands on their money. here is what he had to say. >> bearing that in mind, are the banks going to open on tuesday morning? >> i cannot say that. i cannot say that. it's always a mistake to say something like this when you are not completely sure. there is a lot 06 work to be done, but they will open very soon. >> and how long do you intend to use the capital controls for? >> that also i cannot answer. but, again, our objective to keep them as limited and is as short as possib
is going to have some issues as well. and generally speaking the economy is likely to get worse as the conditions of the bailouts are rolled into place, as far as the street scene around here has been concerned and plenty of places taking credit cards and folks are sitting by cafes, and it's greek independence day and they're off and celebrating, not necessarily the bank out, but something indeed. stuart: thanks, rich. by the way people who are so vehement in the treat pstreet p, i believe they're bank employees and they may lose their jobs and their pensions as well and they're left with nothing and why they're so vehement on the streets there. let me go to the dow quickly. the dow is up 48 points that largely on the back of the settlement-- it's not a settlement, it's a bailout. cyprus gets it, up goes the dow, 14,557. all right. our next guest says that cyprus, what happened there, could unravel the entire euro system. economist peter morici joins us now, all right, peter. you've said this morning, i've read the article, that cyprus will be better off getting out of the euro
to shoot straight and say, it's not as if our government's going to collapse tomorrow or the economy is going to collapse tomorrow if we do nothing. but it's time to quit kicking the can down the road. you know, the folks on the other side of the aisle have talked about a balanced approach. but there's nothing balanced about a budget that doesn't balance. frankly the republican proposal is a relatively modest one. we grow government by 3.5% a year over the next ten years and balance the budget to, you know, put our kids and grand kids in a better position. >> obviously a big issue is going to be medicare. congressman cartwright, i want to get you to respond to something that senator corker says he wants president obama to do. here's what he said over the weekend. >> when the president uses his bully pulpit to explain to the american people that families are only paying one-third of the cost of medicare, we will know that we've begun the process of trying to solve this problem. i hope that happens as soon as he gets back from israel. >> congressman cartwright, i know there's a lot of
has shaken the world of tax havens and the multitrillion dollar economy of offshoring. cyprus, of course, a classic tax haven for the wealthy. russians invested more than $119 billion in cyprus in 2011 alone. they accounted for about a third of total dpos its. the new tax on deposits, let's call it what it is, a wealth tax, has americans worrying about other tax havens. more than $20 trillion held around the world in offshore havens. their favorite tax havens are in the caribbean. namely the cayman islands, bahamas, british virgin islands. globally the channel islands, monaco, switzerland and swing pore. caribbean countries in much better financial shape and more stable legal systems than cyprus. the capital structure of some of these offshore banks remains a mystery. governments in the tiny island nations are notoriously prone to corruption and sudden policy shift. many say cyprus isn't likely to repeat soon. the crisis is another reason offshoring may become more risky for the world's wealthy. >> thank you so much, robert frank. >>> i'll talk exclusively with john thain next
, knoxville, tennessee, have in common? they have bigger economies than cyprus. it has over a million people. gdp of about 24 billion. but this place is in big trouble right now, because of the issue of debt. what they have is a massive debt. they're spending more than they have, so they're getting a bailout from the eu of about $13 billion. we're going to do this all in dollars, not euro, to keep it all clean here. so, of course, with the bailout comes, as we've seen with other nations, you s as you austerit measures. but the savings tax. essentially, a 6.75% tax on $131,000 and below. you get the picture. if you have $131,000 in the bank right now, and this thing gets approved tomorrow, if that happens, they would come in and take about $9,000 out of your account. even more if you have more. now, the plan is if you do this, you get shares of the bank, and then, jake, when everything gets fixed, theoretically, you get your money back and maybe some more. >> tom, you said cypriots. i said cyprus. >> we'll settle that later. >> thank you so much. >>> also leading money news, how bad are thing
♪ ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >> it's an ipo. it's marin software. the ceo will be on the show later. what do they do? if you hire them, you're a company and they'll make sure that your profile on the internet pops up first when you do a google search. marin software just opened up 41%. now this. >> on what grounds do you-- >> because i predicted that you would not have filled out a ncaa bracket. connell: agree on that. imus: i he see in front of you-- >> what does a man know about basketball when he thinks that duke is going to win? you think that the plumly brothers, miles, mason and marshall would be my guy working for the louisville guys. and beat kansas in the final, 84-82? >> varney is reading this. connell: no he's not, no he's not. stuart: that was on imus yesterday and bracket picks. did you think i convinced anybody i know anything about basketball? >> no. stuart: i new about the plumly brothers and i went on to say i wish we could go back to the days of the fab five from michigan and tim
and the economy first and managing our debt wisely and responsibly. >>> what will you say in response to the rep criticism and clearly paul ryan's manifesto, when his budget shows the contrast, what do you say to their criticism that you don't resolve the spending cuts, that you don't deal with the debt adequately, just to play devil's advocate for a moment? >> sure. firstly, we do cut spending in our budget, but if you look at the ryan republican budget, it calls itself balanced, but it does it? just a horrendous ways to families across our country, who have been watching their kids go to school and struggle because of the cutbacks there, people who can't get a job today, people who want to have a strong country in the future, know that the investments we make in education and the infrastructure are devastated in the ryan budget, and he makes false promising that could be kept about reducing the tax rates. the only people that are protected in the ryan budget are the wealthiest and the largest corporations. they tell the rest of america, you are responsible for managing this debt that we have g
the letter, fearing high-tech investors who helped build the venture capital economy will flee to lower tax states. >> the game is rigged. you can't possibly win because we have the right to change the rules after the fact. that is what is not fair. >> governor jerry brown is reviewing the situation. now these taxpayers can request a waiver if you will, david, hoping that the governor, lawmakers hammer out a deal. if no not, no reprieve, taxman comes, 120 million going to the state from about 3,000 people who thought they were helping small business. david? david: it can happen here. it is happening here in california! william la jeunesse. thanks, man. >>> disney world turning some kids away at the park gates. that story when we go "off the desk" in a just a couple minutes. ♪ your finances can't manage themselves, but that doesn't mean they won't try. bring all your finances togeth with the help of the one person who can, a certified financial planner professional. cfp -- let's make a plan. ♪ [ male announcer ] help brazil reduce its overall reliance on foreign imports th the launch of
in there. >> i think elected officials need to be honest about the real challenge our economy is facing. we have a debt challenge. we have a congress that is pretty disfupgsal and governing by crisis after crisis after crisis. no attempt to make solutions. no attempt to spur growth in the economy. and we're spending our time focusing on these issues which have very real impacts for many people around the country. but if we were to focus on job security, economic growth, many of the social issues would take care of themselves. >> it is an economic issue for women and families. >> i'm scared it's going to remain a dominant issue because of other issues that have fallen to the wayside. immigration in 2010 was the the celeb for the tea party, for the right wing. everybody is on board. we're battling out the details. we're looking at gay marriage. we're seeing a trend of acceptance for gay marriage. >> here's what i don't understand. the republican party is about individual responsibility, smaller government, letting the person figure out for their own idea what they should do. millions of peopl
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life. but great institutions like the family. about a growing economy.about ai strong national defense. we care of about these things so much because fundamentally, we are the people who truly care about people. we love people. in this country. we want everyone to succeed in this country! am. >> i want to talk a little bit about what is logical and what is common sense. today. because we don't hear a lot of that. and i don't think that common sense should be something that is just for conservatives. liberals and everybody else should understand and enjoy common sense also. for some strange reason, sometimes they don't. >> you see, as conservatives, we shouldn't take a back seat to anybody. we have a moral cause. it is not just about balancing budgets. it is not just getting the economy going. what we stand for is not taking thing away from people. that's the other side. p this president measures success by how many people are dependent on the government. we measure success in government by just the opposite, by how many people are no longer dependent on the government. not because we h
♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. bill: so onward we go, huh? two more weeks of lent. martha: two more weeks of lent as we were discussing. have a great day everybody. "happening now" starts right now. jenna: right now we have brand new stories and breaking news. >> the fbi on the scene of the university of central florida after a suspicious death there. plus explosives were found inside a dorm. we're live with breaking details. >>> the gop's bold new plan for the future. what the party needs to connect with voters it finds. >>> china out with a new warning for the united states about plans to beef up our missile defense system. how this could impact growing tensions with north korea. it's all "happening now.". >>> fox news alert on a campus in chaos. police are investigating a apparent suicide find weapons and explosive devices at the university of central florida. that is how we begin this monday. i'm jon scott. jenna: i'm jenna lee. ucf is canceling classes just hours after evacuating a dor
i just want to be mismy family economy, landed here with the crowds, the press signed a letter saying, we'll leave you alone. never take a picture, so we never hear about her in the press. living a quiet live here at the uw. the same boyfriend before the trial and her initial arrest. he lives in the international district. his family supports her. she has a great extend family in west seattle, and hopefully this will be the period at the end of a very long and unfortunate sentence. >> shepard: is that the thinking? >> i think it is. surprised to hear there was a mixed review in court. the thinking here is, like no way. just no way she's going to have to go back. and in reality she won't be intrado -- extradited. but enough already. this has been -- she has been an innocent abroad, been through four years in prison for something she didn't do, and it's time to just let her have her life-for everyone, including italy to let her have her life. >> shepard: i'm somewhat surprised the italian media have not been tracking her down. >> they do. there's definitely paparazzi, that's wher
, the economy comes to life. norfolk southern. one line, infinite possibilities. try align. it's the number one ge recommended probiotic c" that helps maintain digestive balance. ♪ stay in the groove with align. ♪ need help keeping your digestive balance in sync? try align. it's a probiotic that fortifies your digestive system with healthy bacteria 24/7. because your insides set the tone. stay in the groove with align. >>> three years ago, the scene after at fukushima nuclear plant in japan. recall the earthquake and tsunami hit the area, waves knocked out cooling systems to reactors leading to meltdowns at three of them. >> that's right, tens of thousands of people evacuated and they still have not been able to return to their homes. last night a power outage hit the same nuclear plant, and now crews are working to restore some of the cooling systems. >> want to bring in chad meyers. help us understand how the cooling systems work and how dangerous this potentially. >> is a closed system, water pumps in and out of a reactor, the core here is not acting at all but talking about the pool
national. go like a pro. yes, it is. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, finite possibilities. >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, another record day for your 401(k). the dow hitting another all time high up 56 points, and the s&p and nasdaq ending the day in green territory. good news, but we have bad news. head's up investors, high frequency trade firms could put you and trades at a big disadvantage. it's a wash trade. when traders acted legally as the buyer and seller for the same transaction driving volumes and distorting prices. the cftc on the case. we have details of the investigation and what it means to you. bart, great to have you on the show. thanks so much for coming on. explain the wash trades. what are they? why are they eel lisle? >> well, you explained it well, gerri. it's actually when you offer to buy and you sell at the same time. you just cancel each other out. you are not taking risks in the markets, and it creates a false volume, and there's all sorts o
in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. gerri: are you bored of your apps? details in two minutes. gerri: all right, in case you missed it, all last week thousands of bands, record labels, startups and music fans converge in austin, texas, the annual south by southwest festival in our next guest says a slew of shiny new apps came out to help you to be on the cutting edge. if you want to be on the cutting edge. joining me now with some of the coolest apps out there. they have this whole tech part which is very popular. what were the trends that came out this year? >> south by southwest interactive, 3d printing, a lot of apps to help you take a monday in parts of your life and make them more interesting which is a lot of what the apps were doing. things like texting and calle
by the time we came into office in 2009, it was all about the economy. but the animating event really for three years, leading up to that election, was iraq. i definitely think, i think it is, i think it will have a huge impact, it has on this commander-in-chief and will have on future commanders in chief. because they understand that without some popular support, it's hard to go about doing -- a lot of military action. without some broad popular support among people to do something like this, there's very little taste to park tens of thousands of people in a place like syria. that even though it's important, has less of a connection to folks here at home. they understand now probably more than ever, the real costs of the war. not just in dollars, but in lives and in injuries and in things like ptsd, which we'll quite frankly be dealing with for a lifetime. >> rachel i want to talk about the veterans' angle on this and we speak about the cost of war. we often forget about those still living if you're look at what's happening to veterans, there are 600,000 of veterans who have backlog
technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. one of those sons, a 10-year-old boy died. we're told his mother is still in serious condition. and as of yesterday, the family priest said the mom did not even yet know about the death of her son. fox extreme weather alert now. the deadly spring snow storm that has already buried parts of the midwest dumping heavy wet snow and sleet up and down the east coast. keep in mind winter just ended a couple of days ago. nearly 500 flights cancelled today, most of them in or out of new york city. the roads weren't much better. car crashes all over the place. police are blaming the storm for two deaths. one in kansas and one in missouri where there is still more than a foot of snow in some spots. i should say fortunately a lot of schoo
and spain and most global banks have a lot of exposure to those two countries and their economies are much bigger and more important. david: what about hsbc or barclays? both have a lot of branches in cyprus. >> well, barclays has a lot of exposure to spain which is something i would be worried about. david: okay. >> and hsbc has a global bank has exposure to just about everything. only sew societe generale has exposure to cyprus and national bank of greece. it is basically government-owned anyway now. david: what i don't understand, maybe you can explain it to me, erin, why is it, these are international banks. i can understand cypriot banks. that is different situation. some of those might be bought out by the russians anyway. if i have an international bank and an international account in an international bank in cyprus or spain, in international currencies, euros, why can't i move my operation to another country that is not at risk? >> will, i think is exactly what they're worried about. that is why there's a bank holiday cyprus. the banks are expected to reopen on thursday and they're
't work, which is why our budget focuses on accelerating the economy and putting people back to work right now, for example getting rid of the sequester. so i guess the bottom line, soledad, it's good they're recognizing they've got a problem. but as far as i can tell they misdiagnosed. >> you say with the exception of immigration, and immigration is a big exception. you can see paul rand talking about a pathway to some kind of citizenship. in the tea party. that's i think a little bit of a surprise for some people. do you worry as a democrat that with republicans, i think, correctly analyzing the issue, and the problem they have with the fastest growing demographic in this country that that's going to be a real challenge to democrats? >> look, i'm glad that our republican colleagues are finally on board with immigration reform. we've gone at a very short period of time -- >> right but that's not my question. my question is do you worry that that's going to be a, a part of getting them to capture the hearts and minds of -- >> no, i don't worry -- >> -- idea as really republicans if there w
economy, they'll find a war to start or start one of their own, and we'll never get those live or money back." and from michael, "hopefully we learn to keep our noses out of other country's business, unless they threaten to attack or do attack the united states." please, keep the conversation going. we have great response to this question and it's so important, so facebook.com/carolcnn or tweet me @carolcnn. the next hour of "cnn newsroom" after a quick break. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. awarded five-stars from smartmoney magazine. music ... music ... music... >>> happening now in the newsroom, sex, lies, and videotape. breaking overnight, new details about senator robert menendez and claims he paid for hookers in t
, approaching the half million mark here. this country's economy was already struggling to begin with. and officials here say it spent somewhere in the ballpark of a billion dollars to deal with the refugees. the united states is already number one. the president noted in the international community, in putting up both cash and other human taryn resources to help with the refugee crisis but is promising 200 million more. that's the most important takeaway from the jordanian perspective. they need the financial help and in the meeting, the president also able to talk about what is the jordanian government and the intelligence service, what is their assessment of what is going on in syria, how long does the king think bashar al assad can hang on? an update on syria the most important item here. >> what was really accomplished, john, in this trip overall? >> reporter: you know, you have to say, don, i think what was accomplished is important foundations were set down. we'll see in the weeks and months ahead whether they produced the results the president wants. let's go through one of th
? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. can make any old day a special occasion. so she makes her new mini cream pies with real cream filling and milk chocolate on a cookie-crumb crust. marie callender's. it's time to savor. and milk chocolate on a cookie-crumb crust. with tasty grilled flavor and goodness to savor ♪ ♪ friskies grillers blend. ♪ feed the senses. this morning. my question. what are we going to do without chris hayes? no, seriously. is it time to eliminate the death penalty once and for all? plus, how art changes the lives of children and the brothers mcgill will play live here in nerd lar nerdland. the supreme court and marriage equality. how we finally got to this historic moemtd. moment. >>> good morning. i'm melissa harris-perry. i often recount the story of m
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